Que. 1 : Which of the below is an element of the life insurance business?

1.  Asset   2.  The contract   3.  Principle of mutuality   4.  All of the above

Que. 2 : Life insurance provides ______________________________ against those risk events that can destroy or diminish the value of human life as an asset.

1.  Consideration   2.  Protection   3.  All of the above   4.  None of the above

Que. 3 : Life insurance provides protection against those ________________________ that can destroy or diminish the value of human life as an asset.

1.  Consideration   2.  Risk events   3.  All of the above   4.  None of the above

Que. 4 : Life insurance provides protection against those risk events that can destroy or diminish the ____________________ of human life as an asset.

1.  Consideration   2.  Value   3.  All of the above   4.  None of the above

Que. 5 : _________________________means that after the occurrence of an event like fire, the insurer can assess the exact amount of loss that has occurred and pays compensation only to the amount of loss – no more, no less.

1.  Assurance   2.  Indemnity   3.  Asset   4.  Value

Que. 6 : ___________________is not possible in life insurance. The amount of benefit to be paid in the event of death has to be fixed at the beginning itself, at the time of writing the contract. Life insurance policies are thus often known as life assurance contracts. An assured sum is paid to the nominees or beneficiaries of the insured when he dies.

1.  Assurance   2.  Indemnity   3.  Asset   4.  Value

Que. 7 : Indemnity is not possible in life insurance. The amount of ____________________ to be paid in the event of death has to be fixed at the beginning itself, at the time of writing the contract. Life insurance policies are thus often known as life assurance contracts. An assured sum is paid to the nominees or beneficiaries of the insured when he dies.

1.  Assurance   2.  Benefit   3.  Asset   4.  Value

Que. 8 : Indemnity is not possible in life insurance. The amount of benefit to be paid in the event of death has to be ___________________ at the beginning itself, at the time of writing the contract. Life insurance policies are thus often known as life assurance contracts. An assured sum is paid to the nominees or beneficiaries of the insured when he dies.

1.  Fixed   2.  Variable   3.  Not fixed   4.  All of the above

Que. 9 : Indemnity is not possible in life insurance. The amount of benefit to be paid in the event of death has to be fixed at the beginning itself, at the time of writing the contract. Life insurance policies are thus often known as life ____________________________ contracts. An assured sum is paid to the nominees or beneficiaries of the insured when he dies

1.  Value   2.  Asset   3.  Assurance   4.  Benefit

Que. 10 : Indemnity is not possible in life insurance. The amount of benefit to be paid in the event of ___________________________ has to be fixed at the beginning itself, at the time of writing the contract. Life insurance policies are thus often known as life assurance contracts. An assured sum is paid to the nominees or beneficiaries of the insured when he dies.

1.  Hospitalization   2.  Accident   3.  Death   4.  All of the above

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